The Latin America, Middle East and Africa Lecithin Market would witness market growth of 7.2% CAGR during the forecast period (2022-2028).
The rise in demand for organically derived components around the world is one of the key factors propelling the growth of the Lecithin Market. The ingredients are in high demand due to the ease with which they may be obtained in nature and multiple applications of lecithin in various industries and a rise in consumer awareness of clean label products. An increase in popularity of sunflower-based lecithin is influencing the market due to benefits such as ease of handling along with neutral flavor, as well as the product's application in dietary foods like capsules and tablets, bakery items, and convenience meals like instant soups and sauces.
This aids in the dissemination of information regarding the usage of lecithin as a supplement. Lecithin is getting popular in the cosmetics sector, especially in skincare products. By lowering the interfacial tension of the emulsified constituents, lecithin aids in the formation of emulsions. Several skincare, as well as personal care products, are being launched by leading cosmetics brands. Moreover, rising demand for organic and green food products, and a rise in the demand for alternate sources of lecithin, would present profitable opportunities for market players throughout the forecast period.
Because of the vast area of land for soybean farming in Central and South America, it is one of the fastest-growing regions. Major countries that grow soybeans, such as Argentina and Brazil, are driving demand. End-use sectors are likely to benefit from shifting consumer patterns and increased disposable incomes.
Moreover, the surging utilization of lecithin in the regional pharmaceuticals sector is also a major driver of the increasing demand for lecithin across the region. According to the National Library of Medicines, the UAE has developed a large pharmaceutical manufacturing base in recent years. The foundation of Gulf Pharmaceutical Industries, often known as Julphar, in the Emirate of Ras Al Khaimah, laid the foundation for the UAE pharmaceutical sector. With the introduction of new enterprises such as Globalpharma and Gulf Injects in Dubai, Neopharma in Abu Dhabi, and Medpharma in Sharjah in recent years, the industry has grown even more.
The Brazil market dominated the LAMEA Lecithin Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $49.8 Million by 2028. The Argentina market is experiencing a CAGR of 7.8% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 6.9% during (2022 - 2028).
Based on Application, the market is segmented into Feeds, Food & beverages, Industrial, and Healthcare. Based on Nature, the market is segmented into GMO and Non-GMO. Based on Type, the market is segmented into Fluid, De-oiled, and Modified. Based on Source, the market is segmented into Soy, Sunflower, Rapeseed & canola, Egg, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Lecithin Market is Predict to reach $2.5 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer Daniels Midland Company, Bunge Limited, DuPont de Nemours, Inc., Wilmar International Limited, Kewpie Corporation, IMCD N.V., Avril Group, Lipoid GmbH, Stern-Wywiol Gruppe GmbH & Co. KG, and Cargill Corporation.
By Application
By Nature
By Type
By Source
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
